• The Fed is trying to manage the economy, but the market is starting to rebel against them.
• The market thinks rate cuts are likely relatively soon, whereas the Fed is like “well hm, no, we plan to keep hiking”.
• There is an idea in some corners of the tech world that only tech people can be executors of Goodness and that anything that stops tech people from doing what they want is Very Bad.
• We have started to see softer prints in inflation, inflation expectations ticking down, supply chains easing, and a loosening in the labor market in quits.
• The Fed is really focused on the labor market via “Things We Have To Spend Money on To Stay Alive”, which is an inflation category.
• SBF was charged with a litany of things, including “Wire Fraud, Wire Fraud Conspiracy, Securities Fraud, Securities Fraud Conspiracy and Money Laundering”.
• Empathy is a function of understanding the emotions of others, but markets don’t really price this. It requires looking beyond individual forces of supply and demand.
• Vincent Van Gogh quote: “Many people seem to think it foolish, even superstitious, to believe that the world could still change for the better. And it is true that in winter it is sometimes so bitingly cold that one is tempted to say, ‘What do I care if there is a summer; its warmth is no help to me now.’ Yes, evil often seems to surpass good. But then, in spite of us, and without our permission, there comes at last an end to the bitter frosts. One morning the wind turns, and there is a thaw. And so I must still have hope.”
Published December 17, 2022. Visit Kyla’s Newsletter to read kyla scanlon’s original post.